Some Singaporeans have already received S$200 to S$400 cost-of-living payment on Sept 3; others to receive throughout the month

SINGAPORE: Some Singaporeans have already received cash payouts from the government’s Cost-of-Living Special Payment, with amounts ranging from S$200 to S$400, on Sept 3, 2024.

This financial support is part of the Budget 2024 plan to help citizens cope with the rising cost of living.

Mothership reported that one of the first to receive the payment was an OCBC bank customer, who confirmed that S$200 was deposited into his account on Sept 3. The payment rollout will continue throughout September, aimed at assisting over 2.4 million eligible Singaporeans.

Who is eligible for the cash payout, and how much can they expect

To qualify for this payment, Singaporeans must have an annual assessable income of S$100,000 or less and own only one property. The amount each person receives depends on their income level:

• S$400 for those earning up to S$22,000 a year.
• S$300 for those earning between S$22,001 and S$34,000 a year.
• S$200 for those earning between S$34,001 and S$100,000 a year.

When eligible Singaporeans will receive their payments

• From Sept 5, 2024: Citizens who registered their NRIC with PayNow and have accounts with the 12 participating banks will receive their payments.
• From Sept 13, 2024: Those without PayNow-NRIC but with bank accounts at DBS/POSB, OCBC, or UOB can expect to receive their payments through GIRO.
• From Sept 23, 2024: Citizens who didn’t provide bank details or link their NRICs to PayNow will receive their payments through GovCash. They can withdraw the money from OCBC ATMs using their NRIC and a Payment Reference Number (PRN), which they can find on the govbenefits website by logging in with their Singpass.

To know if you are eligible for the cash payout, log in to the govbenefits website with your Singpass. The Cost-of-Living Special Payment is part of the Assurance Package announced in Budget 2024 by Prime Minister and Minister for Finance Lawrence Wong. With S$1.9 billion allocated, the package is designed to help Singaporeans, particularly those in lower- and middle-income groups, manage rising living costs. In addition to these cash payments, the Assurance Package also includes Community Development Council (CDC) vouchers, U-Save rebates, and service and conservancy charges (S&CC) rebates. /TISG Read also: More CDC vouchers released with cash payouts coming in September and December 2024 Featured image by Depositphotos